BANKSETA AR 31 AUGUST

Comments for Noting

It must be noted that the target for this

indicator is 97% of

valid invoices paid within 30 days or

approval obtained and corrective

action implemented where there is non compliance

Reasons for Deviations

irregular

expenditure is

due to irregular

appointment of

Board members

which is outside BANKSETA’s control

8.4% 1.6% There were

vacancies

during the

reporting period. BANKSETA

also contained

costs by doing some ICT

work inhouse.

Some activities planned for

2021/22 will only be delivered in 2022/23

85% 95% 97% of valid 89.8% -7.2% Payment of

some invoices

are still delayed

due to controls

that need further improvement. Controls to

achieve 100% payment of

invoices in 30

days are further being

strengthened

from Planned Target to Actual

Deviation

Achievement 2021 - 2022

0.16% 0.84% The only

Actual

Achievement

Planned Annual Target

0% 0,70% 1% irregular,

fruitless and wasteful

expenditure

<10 Admin costs

controlled within the regulated

benchmarked limit of less than 10%

of levies income or

approval sought to exceed threshold due to 4 month

SDL holiday. Then BANKSETA will

keep within the

original admin budget

invoices paid

within 30 days

Audited Actual Performance 2020 - 2021

Actual

Audited

Performance 2019 - 2020

Admin costs controlled within

benchmarked limit of less

than 10% of levies income

Output

Indicator

Percentage

of irregular,

fruitless and wasteful

expenditure

Admin costs

controlled within the regulated limit of less

than 10% of

levies income or

approval sought to exceed threshold

% of valid

invoices paid

within 30 days

Annual Performance Report for the Period 1 April 2021 to 31 March 2022 Outcome Output Processing and Payment of invoices Control Admin costs within the regulated limit

Management

and minimisation of irregular, Fruitless and Wasteful

expenditure

An efficient and

effective SETA that complies

with legislation, policy and

good corporate governance principles

1.5 Financial Management and Reporting

36

PART B: PERFORMANCE INFORMATION | BANKSETA ANNUAL REPORT 2021/22